Exports decline 24pc in July

On a YoY basis, exports declined 0.5pc

ISLAMABAD: Pakistan’s exports in July posted a decline of over $700 million or a MoM 24 percent as compared to the exports registered in June 2022.

As per the data released by Pakistan Bureau of Statistics (PBS) on Tuesday, exports in July were recorded at $2.2 billion against $2.9 billion exports registered in June 2022.

On a YoY basis, exports declined 0.5 percent as they totaled $2.219 billion in July 2022 compared to $2.340 billion in July 2021.

Meanwhile, the country’s imports also registered $4.8 billion in July as compared to the import bill in June hovering around $7.8 billion.

Pakistan’s imports on a month-on-month (MoM) basis declined by 38.3 percent in July 2022 as it remained $4.86 billion compared to $7.880 billion in June 2022.

According to the official data of PBS, the country’s trade deficit narrowed by 18.33 percent in July 2022 on a year-on-year basis and remained $2.64 billion in July 2022 compared to $3.23 billion in July 2021.

YoY basis imports declined by 12.8 percent in July 2022 and remained $4.8 billion compared to $5.5 billion in July 2021.

On the other hand, the trade deficit in July 2022 stood at $2.6 billion with imports of $4.8 billion during the period even though there has been a contraction in imports after various measures taken to control the outflow of dollars.

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Ghulam Abbas
The writer is a member of the staff at the Islamabad Bureau. He can be reached at [email protected]

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